5 Biggest Exploration and Production Companies in the World

3. ConocoPhillips (NYSE:COP)

Market Capitalization as of November 17th, 2022: $163 billion

ConocoPhillips (NYSE:COP) is an American oil and gas exploration, production, and transportation company that is headquartered in Houston, Texas. The firm has facilities in North America, Europe, Canada, Asia, and Australia.

ConocoPhillips (NYSE:COP) had a strong fiscal third quarter which saw the firm report $3.6 in earnings per share. The firm decided to reward investors in the aftermath, as it announced an 11% dividend hike and a $20 billion share buyback increase. These came as ConocoPhillips (NYSE:COP) reported $4.5 billion in free cash flows.

Piper Sandler raised ConocoPhillips (NYSE:COP)’s share price target to $155 from $133 in November 2022 as it shared that the third quarter results were quite strong when compared to the weakening 2023 economic outlook. 64 out of the 920 hedge funds polled by Insider Monkey during this year’s September quarter had invested in ConocoPhillips (NYSE:COP).

ConocoPhillips (NYSE:COP)’s largest shareholder in our database is Ken Fisher’s Fisher Asset Management which owns 6.9 million shares that are worth $708 million.

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